East Java Investment Realization Grows 69.2%, Exceeding National Growth

Investment realization in East Java during the second quarter of 2022 reached Rp29.9 trillion. This achievement increased by 69.2% from the second quarter of 2021 (year-on-year/yoy) and exceeded national investment growth.

Quoting the East Java Communications and Informatics Agency, in detail, East Java's investment consists of Foreign Direct Investment (FDI) of Rp11.3 trillion, or a growth of 198.1% (yoy). Meanwhile, Domestic Direct Investment (DDI) amounted to Rp18.6 trillion, or a growth of 34.1% (yoy).

National investment realization in the second quarter of 2022 amounted to Rp302.2 trillion, growing by 35.5% (yoy). The details are: FDI realization of Rp163.2 trillion, or a growth of 39.7% (yoy), and DDI of Rp139 trillion, or a growth of 30.8% (yoy).

Accumulating the achievement in the second quarter with the first quarter, 66.9% of East Java's 2022 investment target of Rp80 trillion (target of the 2019-2024 Regional Medium-Term Development Plan) has been fulfilled.

Regarding this investment realization achievement, the Governor of East Java, Khofifah Indar Parawansa, stated that this is proof that the investment climate in East Java is very conducive.

Thus, investment from both foreign and domestic sources can be realized well. Furthermore, with the realized growth, she is confident that East Java's 2022 investment target will be maximally achieved.

"Alhamdulillah, through synergy and collaboration among all strategic elements of East Java in recovering the economy post-COVID-19 pandemic, the investment realization released by the Investment Coordinating Board (BKPM) shows an increase," said Khofifah, as quoted from the East Java Communications and Informatics Agency.

The five countries that contributed the most to investment in East Java are the United States with a 43.8% contribution and a total realization of Rp4.94 trillion.

Then there is Hong Kong with 19.2% and a realization of Rp2.16 trillion, followed by Singapore with 15.1% and a realization of Rp1.70 trillion. There is also Japan with a 9.7% contribution and a realization of Rp1.01 trillion, and finally, Samoa with 2.4% and Rp0.28 trillion.